argenx (NASDAQ:ARGX) Upgraded by Scotiabank to “Sector Outperform” Rating

argenx (NASDAQ:ARGX) was upgraded by stock analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage presently has a $715.00 price target on the stock. Scotiabank’s target price would suggest a potential upside of 21.46% from the stock’s current price.

ARGX has been the topic of a number of other research reports. Barclays upgraded shares of argenx from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, August 6th. Evercore ISI increased their target price on argenx from $478.00 to $533.00 and gave the company an “outperform” rating in a research report on Friday, July 12th. Citigroup boosted their price target on argenx from $512.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on shares of argenx from $640.00 to $670.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, JMP Securities raised their price target on shares of argenx from $497.00 to $606.00 and gave the company a “market outperform” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $615.50.

argenx Price Performance

Shares of NASDAQ ARGX opened at $588.67 on Tuesday. The stock has a market capitalization of $35.20 billion, a PE ratio of -668.94 and a beta of 0.61. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $610.73. The business has a fifty day moving average price of $539.46 and a two-hundred day moving average price of $467.19.

argenx (NASDAQ:ARGX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $0.10 by $1.29. The business had revenue of $588.88 million during the quarter, compared to the consensus estimate of $543.29 million. argenx had a negative return on equity of 0.96% and a negative net margin of 2.11%. During the same period in the prior year, the company earned ($1.25) EPS. On average, equities analysts expect that argenx will post -0.36 EPS for the current year.

Institutional Investors Weigh In On argenx

Large investors have recently added to or reduced their stakes in the company. TD Asset Management Inc raised its position in shares of argenx by 15.4% in the first quarter. TD Asset Management Inc now owns 223,695 shares of the company’s stock valued at $88,073,000 after purchasing an additional 29,810 shares during the period. Seven Eight Capital LP lifted its position in shares of argenx by 66.4% during the first quarter. Seven Eight Capital LP now owns 3,110 shares of the company’s stock worth $1,224,000 after acquiring an additional 1,241 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of argenx by 36.5% in the first quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock worth $234,766,000 after acquiring an additional 159,480 shares during the period. Mediolanum International Funds Ltd bought a new position in shares of argenx in the first quarter worth $4,570,000. Finally, Fiera Capital Corp raised its stake in shares of argenx by 2.2% during the 2nd quarter. Fiera Capital Corp now owns 165,595 shares of the company’s stock valued at $71,212,000 after purchasing an additional 3,506 shares during the period. Hedge funds and other institutional investors own 60.32% of the company’s stock.

argenx Company Profile

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.